If you are ugly, you go to bed first, and if I am beautiful, I will broadcast live - Inke's advertising slogan is simply like the brainwashing song of the Phoenix Legend, which has washed the brains of private investors for a whole year.

However, this year, Private Equity gave Inke a free upgrade to their new advertising slogan: If you are ugly, sleep with me first. If I am beautiful, I will "sell myself."

On May 10, A-share listed company Xuanya International announced that it will conduct a major asset reorganization. The target asset is Beijing Millywood Network Technology Co., Ltd., the main operating company of the live broadcast platform Inke, and it is expected to hold no less than 50% of the equity.

.

Before the suspension, Xuanya International’s market value was 7.2 billion yuan.

According to the preliminary negotiation results between Xuanya International and relevant parties, the main counterparties of this restructuring include the founder shareholders of the target company, employee stock ownership platforms and institutional investors.

The company's controlling shareholder holds 0.7423% of the shares of the target company. As of the date of this announcement, the final counterparty and the proportion of equity to be transferred respectively have not yet been finalized.

In March 2015, when Inke was founded and launched, it received an angel investment of 5 million yuan from Domi Music; in November of the same year, Inke once again received investment from SAIF Fund, followed by several investors from Jinshajiang Venture Capital and Zihui Venture Capital.

Ten million yuan in A+ round investment; in December of the same year, it received 80 million yuan in A+ round investment led by Kunlun Wanwei.

On January 4, 2016, Kunlun Wanwei entered and invested 68 million yuan, acquiring 18% of the equity.

Subsequently, Kunlun Wanwei transferred all the equity in Inke to its wholly-owned subsidiary Kunnuo Yingzhan; in September, Kunlun Wanwei announced that it planned to sell its 3% stake in "Inke" for 210 million

Yuan.

Based on this, it can be estimated that Inke’s valuation at that time was about 7 billion yuan, and it has entered the ranks of unicorns.

With the aura of a unicorn with a valuation of 7 billion, why did Inke suddenly sell to an A-share public relations company?

Considering the founder's emotions and control rights, how could the founder of Inke let it go?

After the trend of live broadcasting emerged, Inke continued to fight high and invited a number of celebrities to do live broadcasts.

The slogan "If you are ugly, you sleep first, if I am beautiful, I will live broadcast" can also show the confidence of Inke to be the best among more than 80 live broadcast apps at that time.

A person in the marketing industry revealed to Xiaoyu that the social software "Paipai" previously invited 12 celebrities to be endorsers and make video advertisements in office buildings in first-tier cities. The market price for a quarter is 450 million, and the actual investment

also reached 120 million.

Taking this as a reference to Yingke back then, one can imagine its high market investment.

But the problem is that Inke’s investment in these costs does not have enough income to support it.

According to the monitoring of Blue Lake Capital, Inke was unable to control the supply side of the top anchors, and the traffic volume also dropped significantly, and the Baidu Index plummeted by 70%.

According to Entertainment Capital, a person in the live broadcast industry speculated that Inke may have a certain funding gap.

There was a very high cost investment in the early stage, but in the later stage the actual traffic dropped, users’ willingness to pay was low, and there was excessive blood loss.

The person said: "The live broadcast must have the ability to make blood, otherwise, if you can't raise money, it will be fatal." Some industry insiders pointed out: "Few capitals are willing to continue to invest more money in the already unable to say more."

Mobile live streaming of stories. Going public to raise funds in the secondary market has become Inke’s best choice.